King Luther Capital Management Corp Sells 46,269 Shares of Trimble Inc. (NASDAQ:TRMB)

King Luther Capital Management Corp decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 1.0% during the second quarter, HoldingsChannel reports. The firm owned 4,382,419 shares of the scientific and technical instruments company’s stock after selling 46,269 shares during the period. Trimble comprises 1.1% of King Luther Capital Management Corp’s portfolio, making the stock its 25th largest holding. King Luther Capital Management Corp’s holdings in Trimble were worth $245,065,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Trimble by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock valued at $1,554,164,000 after purchasing an additional 273,863 shares in the last quarter. Generation Investment Management LLP lifted its position in Trimble by 89.5% during the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after acquiring an additional 5,796,030 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Trimble by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after purchasing an additional 126,472 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Trimble by 3.9% in the 4th quarter. Primecap Management Co. CA now owns 5,025,141 shares of the scientific and technical instruments company’s stock worth $267,338,000 after purchasing an additional 188,790 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Trimble by 1,387.6% in the second quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after acquiring an additional 3,589,249 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Up 3.7 %

TRMB stock opened at $60.20 on Friday. The firm’s fifty day moving average is $55.24 and its 200 day moving average is $57.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.88 and a current ratio of 0.99. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55. The firm has a market cap of $14.70 billion, a PE ratio of 62.71, a P/E/G ratio of 2.63 and a beta of 1.48.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, research analysts forecast that Trimble Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday. Oppenheimer reissued an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Robert W. Baird lifted their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Piper Sandler restated an “overweight” rating and issued a $73.00 price objective on shares of Trimble in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Trimble presently has an average rating of “Moderate Buy” and an average price target of $66.67.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.